Reason for delay in submission of intimation of resignation of Directors
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Ishwarshakti Holdings & Traders Ltd has submitted an explanation to BSE for failing to disclose director resignations within the required 24-hour window under SEBI (LODR) Regulations. Two directors — Mr. Vivek Kailashchandra Seksaria and Mr. Yashasvi Vivek Seksaria — resigned effective March 31, 2026, but the disclosure was only made on May 7, 2026. The company attributes the delay to an internal family settlement arrangement, stating the disclosure requirement was inadvertently overlooked with no intention to conceal information. Both directors confirmed no material reasons beyond personal circumstances for their resignations. The company has apologized and stated it has strengthened internal compliance mechanisms to prevent recurrence.
The resignations of two Seksaria family members may signal potential changes in ownership structure or management control, though the company states operations were unaffected. The delayed disclosure highlights a compliance lapse that investors should note, though no material financial impact is claimed.